GBP/USD Open 1.5694 High 1.5781 Low 1.5524 Close 1.5700
On Wednesday Pound/Dollar continued increasing significantly with almost 250 pips. The Cable appreciated from 1.5524 to 1.5781 yesterday, in converse with the negative Interbank sentiment at almost -11%, closing the day at 1.5700. Today the British Pound is correcting downwards, but moving still within yesterday's range for the time being. On the 1 hour chart the downward channel was broken upwards, while on the 3 hour chart quotes are holding within the wide trading range. First resistance is yesterday's peak at 1.5781. Break above it should extend the bullish movement further towards 1.5900. The nearest support level is yesterday's bottom at 1.5524. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5400. Today is UK CIPS manufacturing index at 09:30 GMT. Quotes are moving bellow the 20 and just above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term slim bullish pressure. The value of the RSI indicator is negative and hesitant, MACD is positive and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.5781 1.5900 1.6032
Technical support levels: 1.5524 1.5400 1.5273
Trading range: 1.5675 - 1.5600
Sell at 1.5661 SL 1.5691 TP 1.5611
Already made +24 pips profit on GBP/USD today from the following sent to clients only signal:
8:00 GMT Sell Sell GBP/USD at 1.5660 SL 1.5686 TP 1.5600, exit sent at 8:31 GMT+1.
Today so far +85, yesterday +84, as shown in details at http://www.zifx.com/performance.php.